To leave you on a brighter note, I think there is still opportunity here when executed properly.  

One might even argue you are more vulnerable going full turnkey PM as you will have zero visibility on your investment until you actually visit it since you will be at the whims of whatever the PM thinks is best for your asset.  

I’d be happy to speak with you at some point as you all do your research and learn more about executing this strategy and the city itself.

Your only recourse is as to the individual borrower, IF they executed a personal guarantee at the time of the loan origination.   

The attorney took care of the legal side to get it off of the demo docket while we worked w/ the GC to obtain the permits required for the renovation & then executed the renovation project.While taking a trip to the City of Chicago building department may be educational, I think the best use of your time is coordinating w/ your attorney & your GC.  

A lot of manpower is lost.As we approach our busy section 8 season (for us April - July) I am looking for better ways (more affordable and efficient options to the investors bottom line) to plan for and execute the workload which may include hiring someone that has section 8 experience to handle our CHA inspections(and associated maintenance work) or a company that we can outsource when the weeks get slammed with inspections. 

Please explain the vulnerability.

@Joseph O'Sullivan owners should ask less questions about prices & services and more questions about how services are executed!

Our company, 1031X, is 30 years old and is qualified to execute 1031 exchanges in all 50 states.

WE all have clunkers myself included it simply impossible to have a perfect record when you are counting on a third party to execute and pay..